The US stock market opened higher, and the Nasdaq rose 159 points

[New Huo Technology Launches Virtual Asset OTC Trading Business in Hong Kong] Hong Kong-listed company New Huo Technology Holdings Limited has launched virtual asset over-the-counter (OTC) trading services for professional investors in Hong Kong in accordance with the 'Stablecoin Ordinance,' offering OTC trading services for tokens such as USDT and USDC. Article 9 of the 'Stablecoin Ordinance' stipulates that only 'licensed providers' holding a Type 1 license from the Hong Kong Securities and Futures Commission (SFC) are permitted to offer designated stablecoins. Public information shows that New Huo Asset Management (Hong Kong) Limited, a subsidiary of New Huo Technology, holds Type 1, 4, and 9 licenses.

[Hong Kong SFC Chairman: Will Study Digital Asset Treasury Guidelines and Issues of Listed Companies Investing in Bitcoin] Hong Kong Securities and Futures Commission (SFC) Chairman, Huang Tianyou, stated that currently, Hong Kong does not have regulations to oversee listed companies investing in cryptocurrencies. The SFC will continue to monitor market trends and plans to study and formulate guidelines for Digital Asset Treasury (DAT). Huang Tianyou emphasized that investors should carefully evaluate the actual value of listed companies claiming to adopt DAT. Additionally, the SFC will explore issues related to listed companies investing in Bitcoin to further enhance the market regulatory framework.

[BitGo Expands Custody Services to Canton Network] BitGo announced the addition of custody support for Canton Network, providing institutional clients with compliant custody services for Canton Coin (CC). The platform has become the first U.S. compliant custody institution to offer custody services for CC. Previously, the U.S. Securities and Exchange Commission (SEC) had approved BitGo, Ripple, and Coinbase as compliant custody institutions, and this service expansion follows that approval.

[200,000 ETH Withdrawn from CEX in the Last 48 Hours] In the past 48 hours, approximately 200,000 Ethereum (ETH) have been withdrawn from centralized exchanges (CEX), valued at around $780 million.

[glassnode: Bitcoin may drop to $88,000 if it fails to hold $113,000] On October 30, glassnode stated that the on-chain market structure of Bitcoin indicates that the adjustment and reorganization phase is still ongoing. Bitcoin has failed to maintain the short-term holder cost price (around $113,000), momentum is weakening, and both short-term and long-term investors continue to sell off. Market demand is nearing saturation, and it may take longer for consolidation to rebuild confidence. If Bitcoin cannot regain stability at $113,000, it may further decline to the realized price of active investors (around $88,000). Additionally, glassnode pointed out that if the Federal Reserve's actions deviate from expectations, the temporary stability of the market may become fragile.